International Journal For Multidisciplinary Research

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Impact of Betting Legalisation in India

Author(s) Utkarsh Singh, Eshaan Yadav, Jinay Mehta, Soham Parekh, Aman Apte, Sidhant Kothriwal
Country India
Abstract Betting and gambling industry is growing at a fast pace throughout the global economy and is one of the most evergreen industries of the world. In India there is clear evidence of a vast illegal betting and gambling industry functioning for decades. Sports betting being the most popular among Indians, various cases of match fixing scandals have been reported over the years. The government of India has always taken a regressive stance when it comes to legalization of betting and gambling activities. However, legalization of betting and gambling activities will increase the regulatory control of government on the industry which might solve a host of problems for the Indian betting industry and Indian economy as a whole. In this research study we try evaluating the impact of betting and gambling legalization on the Indian economy. The initial part of our research focuses on understanding the overall demographics of the global betting and gambling industry. Further we proceed by estimating the turnover of the betting and gambling industry if legalization takes place. We then applied this turnover to evaluate the economic impact of legalization on the Indian economy. Lastly, we suggest a regulatory model for India if legalization takes place. Our results suggest that the Indian betting and gambling industry could become one of the largest in the world if legalization takes place. Further, legalization of betting and gambling activities will lead to a substantial increase in the GDP as well as the tax collection.
Keywords Betting, Gambling, Economy
Field Mathematics > Economy / Commerce
Published In Volume 5, Issue 2, March-April 2023
Published On 2023-04-30
Cite This Impact of Betting Legalisation in India - Utkarsh Singh, Eshaan Yadav, Jinay Mehta, Soham Parekh, Aman Apte, Sidhant Kothriwal - IJFMR Volume 5, Issue 2, March-April 2023. DOI 10.36948/ijfmr.2023.v05i02.2745
DOI https://doi.org/10.36948/ijfmr.2023.v05i02.2745
Short DOI https://doi.org/gr7hfw
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